Commodity Standard | Is Gold a Barbarous Relic?

#money #federalreserve #fed #bank #inflation

The use of a medium of exchange is required to expand the size and scope of the market. Many different commodities have been used as a medium of exchange over the years. One has out performed all others, gold. Gold has been chosen by the market due to its unique qualities. Silver and copper have been used too, but primarily gold. It’s important to note that the people chose gold, it wasn’t forced onto them by the state.

The most common criticism is that gold is a barbarous relic. This isn’t even a criticism or a valid argument against it. Calling it that has somehow ended arguments. Gold stands in the way of the state so that’ll be thrown around. Many will think: we’re not barbarians. However, gold is critical to freedom. Gold prevents deliberate interference by the state. They can’t print gold. This prevents credit expansion.

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